Am I the only one experiencing this? I look at old builds of vDolphin and Ishiiruka and my Custom banners load just fine. But newer builds of Dolphin fail to load up. It's a shame too since I really wanted this fixed during the ubershader hype.
The least I can do to help any Dolphin dev that's willing to solve this solution is that the last version to have custom banners working is 5.0-4472
According to 5.0-4478's change "Gamelist speedup with emustate". perhaps that's related to my issue here
Best of luck!